15 Jan 2010 11:45

MDM assets double in 2009

NOVOSIBIRSK. Jan 15 (Interfax) - The value of assets at MDM Bank rose to 911.723 billion rubles as of January 1, 2010, up from 439.566 billion rubles a year earlier.

Assets increased 12.1% in the fourth quarter from 813.245 billion rubles as of October 1.

MDM Bank and URSA Bank announced in December 2008 that they would merge to form a bank with 72 billion rubles in capital and 523 billion rubles in assets. The two banks carried out the merger in August 2009.

MDM Bank was the 12th biggest Russian bank by assets according to the Interfax-100 list as of the end of the third quarter of 2009.